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It has been a long time coming for listed medicinal cannabis player Bod Australia (ASX: BDA), but they've finally secured their first prescription.
The company announced this morning that it has received its first prescription and required Special Access Scheme approvals for its MediCabilis cannabis oil product.
The approval should give Bod a boost in sales of cannabis oil in the near term.
Additionally, the company has announced its new research collaboration with Biologics Research Institute Australia (BRIA) the owners and operators of Cannabis Access Clinics.
Research will be conducted into the effects of the MediCabilis product on a broad range of patient outcomes.
The agreement is important for the company because once the research is completed MediCabilis will be made available to patients in Cannabis Access' network to prescribe when appropriate.
Cannabis Access Clinics have an extensive network of healthcare clinics assisting doctors and patients to navigate the (at times confusing) regulatory approvals for prescribing medicinal cannabis products in Australia and New Zealand.
The trial will provide feedback on MediCabilis' ability to treat a range of symptoms including anxiety, pain, post chemotherapy nausea & vomiting, and epilepsy.
Bod CEO Jo Patterson says today's news is important for the ongoing growth of the company and its ability to reach more patients in need of the product.
"This agreement is very beneficial for Bod, as it has not only resulted in the company receiving its first prescription for MediCabilis, but also provides us with a large pool of potential patients and prescribers from the Cannabis Access Clinics network that will provide ongoing feedback around our medicinal cannabis product offering," says Patterson.
Shares in Bod are down 1.74 per cent to $0.56 per share at 11.04am AEST.
READ MORE: The Cannabis Index: A complete guide to cannabis stocks on the ASX
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